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REGISTERED NUMBER: 03746604 (England and Wales)
















Naturally Wood Floors Limited

Unaudited Financial Statements

for the Year Ended 30th June 2023






Naturally Wood Floors Limited (Registered number: 03746604)






Contents of the Financial Statements
for the Year Ended 30th June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Naturally Wood Floors Limited

Company Information
for the Year Ended 30th June 2023







Directors: Mr J Campbell
Mr C Kelly





Registered office: 4 Post Office Walk
Hertford
SG14 1DL





Registered number: 03746604 (England and Wales)





Accountants: Playfair Partnerships Limited
4 Post Office Walk
Hertford
Hertfordshire
SG14 1DL

Naturally Wood Floors Limited (Registered number: 03746604)

Statement of Financial Position
30th June 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 8,820 13,231
Tangible assets 5 20,035 35,637
28,855 48,868

Current assets
Stocks 100,244 229,964
Debtors 6 363,929 853,053
Investments 7 55,000 55,000
Cash at bank 19,164 71,583
538,337 1,209,600
Creditors
Amounts falling due within one year 8 248,435 758,887
Net current assets 289,902 450,713
Total assets less current liabilities 318,757 499,581

Creditors
Amounts falling due after more than one
year

9

(169,309

)

(359,330

)

Provisions for liabilities (5,483 ) (9,285 )
Net assets 143,965 130,966

Capital and reserves
Called up share capital 103 103
Retained earnings 143,862 130,863
143,965 130,966

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Naturally Wood Floors Limited (Registered number: 03746604)

Statement of Financial Position - continued
30th June 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th March 2024 and were signed on its behalf by:





Mr J Campbell - Director


Naturally Wood Floors Limited (Registered number: 03746604)

Notes to the Financial Statements
for the Year Ended 30th June 2023

1. Statutory information

Naturally Wood Floors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Naturally Wood Floors Limited (Registered number: 03746604)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023

2. Accounting policies - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 3 ) .

4. Intangible fixed assets
Other
intangible
assets
£   
Cost
At 1st July 2022
and 30th June 2023 22,051
Amortisation
At 1st July 2022 8,820
Charge for year 4,411
At 30th June 2023 13,231
Net book value
At 30th June 2023 8,820
At 30th June 2022 13,231

5. Tangible fixed assets
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1st July 2022 59,356 - 59,356
Additions - 2,000 2,000
Disposals (22,550 ) - (22,550 )
At 30th June 2023 36,806 2,000 38,806
Depreciation
At 1st July 2022 23,719 - 23,719
Charge for year 4,333 778 5,111
Eliminated on disposal (10,059 ) - (10,059 )
At 30th June 2023 17,993 778 18,771
Net book value
At 30th June 2023 18,813 1,222 20,035
At 30th June 2022 35,637 - 35,637

Naturally Wood Floors Limited (Registered number: 03746604)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023

6. Debtors
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 90,040 427,805
Amounts owed by group undertakings 76,619 20,000
Other debtors 58,381 221,220
225,040 669,025

Amounts falling due after more than one year:
Other debtors 138,889 184,028

Aggregate amounts 363,929 853,053

7. Current asset investments
2023 2022
£    £   
Unlisted investments 55,000 55,000

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 177,756 123,940
Hire purchase contracts 7,557 12,501
Trade creditors 36,927 278,358
Amounts owed to group undertakings - 270,000
Taxation and social security 21,227 20,357
Other creditors 4,968 53,731
248,435 758,887

9. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 166,060 344,815
Hire purchase contracts 3,249 14,515
169,309 359,330